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Updated about 3 years ago,
Financing a 4 unit down payment
Hello BP Community -
I have an opportunity to buy an off market 4 unit. Purchase $350k, all units currently rented for $800 each on month to month leases. It needs some repairs but haven’t found any “majors” yet. There is opportunity to increase the rents.
Here’s my question: I can get a commercial loan based on the rental income that would provide positive cash flow. However, that would require 25% down and I would like to preserve cash for my fledgling fix & flip business. From your experiences, what are some creative alternatives I can use to get this deal done?